Targeted Simplii HISA offer of 4.75% (was 3.00% and 3.85%) ending October 31st 2022 | Page 4 | Simplii Financial | Discussion forum

The link is the same, it just takes you to a new document outlining the 3.85% t&c, thus it appears the original 3% document the link previously took you to is gone, replaced by the new one. Which supports everything you're saying, i.e. the 3% offer has been replaced by the 3.85% offer for those on the original 3% offer, no need for "accept" button. Not sure who the button is for as their site still says 3% is the promo rate for new customers:
https://www.simplii.com/en/special-offers/no-fee-chequing-account.html

I was offered the 3% originally, but didn't accept, since I already had the Tangerine 3% until Nov 30. I did get the 3.85% this time as well and had an "accept" button.

Benjames35 said
Remember when Simplii was PC Financial paying 4% interest all the time not just for promotions. I think around 2006-2007  

Sure do! I was just thinking about that this morning. It was even before that -- around 2002 as far as I recall.

G0ldenbarstewart said
You all realize that you do not get the bonus interest UNTIL the end of the promo period??? They did not make that clear - I was shocked to receive only 0.1% for July - I phoned to ask where the bonus interest was and they casually said, oh you don't get that for 3 months!…

Yes, I was aware of that. That was in the confirmation e-mail and the terms and conditions PDF. That's how Simplii's offers work:

Promotional Interest will be paid in November 2022 into a single Eligible Savings Account held by the primary account holder, which account must be active and in good standing at the time of payment. If a primary account holder holds more than one such Eligible Savings Account, Promotional Interest will be paid to the primary account holder’s Eligible Savings Account with the most recent date of activity.

Bruford said

I wouldn't trust that as confirmation of enrollment. If you read it, it specifically says "available by invitation only". I received an invitation, but my wife did not. We were both on the 3%.  

Then maybe you should phone and challenge them. From what I've been told, everyone who received and responded to that initial 'invitation' of 3.0% the beginning of July is eligible for the increase to 3.85%.

If this gives me the interest money after the full period is over, this isn't exactly a regular "HISA" offer and more essentially like, say, a GIC... right?

frencols said

OK thanks, so more like a redeemable GIC then, and not, as I said, essentially like a usual HISA that calculates daily and pays out monthly, right?

(And even with some redeemable GICs, I'm still paid the interest already due uptill the date of withdrawal. But this "HISA" promotion, I think, won't even do that?)  

You still earn interest on any amount you have in the account, just that the base interest is paid monthly, while the bonus is not paid until 2weeks after the promotion ends.
Also a redeemable GIC is like a all-or-none withdrawal, while the Simplii is just like any savings account, where you can add / subtract funds anytime you want. You only earn bonus on the portion above the waterline which is set at the beginning of the promo.

A lesson on how not to impress potential new business, 101...

I just received a letter from Simplii, saying that for all interest rate tiers, my rate (for my account with a penny or so in it) will be 0.4%!

I'm not sure I recall what the effective date for this was, or if there was anything in the letter explaining what the before and after comparison to what they were changing was, or why they were spending postage to communicate this, because the letter was shredded into the garbage before anything was actually remembered!

"the tier balance structure for base interest on their HISA would be changing from 2 tiers to 5 tiers" Next, will they come up with 10 tiers?

Are there staff at simplii who have too much time on their hand? I'll stick with DUCA and Meridian where it is one rate across the board.